Labor Law
ERISA
Breach of Fiduciary Duty
Solis v. Explore General, Inc. et al
Published: Mar. 10, 2012 | Result Date: Jan. 23, 2012 | Filing Date: Jan. 1, 1900 |Case number: 1:2010cv01157 Summary Judgment – Plaintiff
Facts
Plaintiff Hilda Solis, Secretary of Labor, filed suit against Explore General Inc. for breach of fiduciary duty under the Employee Retirement Income Security Act of 1974.
Result
The court granted the Plaintiff summary judgment and found Defendants to be jointly and severally liable for $519,601.14 to be paid to the Explore General Inc 401(k) Plan. Defendants are permanently enjoined from serving as fiducaries of any ERISA-covered employee benefit plan.
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